Global FX Investors Increasingly Seek Non-bank Liquidity

Global FX Investors Increasingly Seek Non-bank Liquidity

Below is the press release for my most recent paper examining changes in the global FX market.  The bottom line: big banks will continue to…

Price Makers and Market Makers are Not the Same

Price Makers and Market Makers are Not the Same

My latest Greenwich Research found that investors have seen a decline in dealer sourced liquidity, and that they’re concerned about it. It also found that…

SEF Order Book Pricing Can Rival RFQ for Interest Rate Swap Trades

SEF Order Book Pricing Can Rival RFQ for Interest Rate Swap Trades

New Greenwich Associates Report Urges Institutional Investors To Use Order Books in Tandem with RFQs   Stamford, CT USA —  A new quantitative research report…

Yellen, Bond Liquidity and Why Sales Traders Matter with Bloomberg TV

Yellen, Bond Liquidity and Why Sales Traders Matter with Bloomberg TV

This was my first time chatting with Betty Liu at Bloomberg TV, which I really enjoyed. We discussed why the Fed shouldn’t hyper focus on…

The non-Liquidity Crisis and Rigged Markets

The non-Liquidity Crisis and Rigged Markets

This week as my first appearance on Bloomberg’s new morning show aptly called <GO>.  Great new set and a fun format.  In these two separate…

Talking US Treasury Market Structure with FIA

Talking US Treasury Market Structure with FIA

Its been way too long since I’ve posted. Funny how writing for a living makes it hard to write your own blog. Something like “the…

Are Fixed Income ETFs Derivatives? My conversation with Bloomberg TV.

Are Fixed Income ETFs Derivatives? My conversation with Bloomberg TV.

Some new research from Greenwich Associates found that institutional use of Fixed Income ETFs is growing. Not surprisingly really, but digging more deeply into why…

Is a crisis a crisis if everyone knows its coming?

Is a crisis a crisis if everyone knows its coming?

(also published on the Greenwich Associates blog) A crisis is a crisis because most people didn’t see it coming. Unexpected events freaks people out causing…

Talking Equity Market Structure with Benzinga

Talking Equity Market Structure with Benzinga

Every month or so I have the pleasure of talking with the folks at the Benzinga #Premarket morning show.  The listener base is predominantly retail which…

15 for 15: Top Market Structure Trends to Watch in 2015

15 for 15: Top Market Structure Trends to Watch in 2015

Market structure happenings have been fast and furious since 2009, and 2014 did not disappoint.  Mandatory SEF trading finally began, fixed income electronic trading continued…